Climate change is an emerging risk that has got everyone’s attention. Companies are announcing their intentions of being a “good corporate citizen” and regulators are enhancing their supervision and disclosure requirements. This paper discusses the considerations that are relevant to insurers attempting to understand how climate change will impact their risk management, how to embed climate change into their business strategy, and how this can be achieved using the ORSA.
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Climate change ORSA guide: Capturing climate change in the ORSA
In this paper, we discuss how insurance companies can consider the impact of climate change through their Own Risk and Solvency Assessment (ORSA).